Others do as well (maybe Der Standard just copied from AP, with a similar line

„Two longtime rivals in computing, IBM Corp. and Sun Microsystems Inc., plan to cooperate on server technologies, a move that could put pressure on their joint competitor Hewlett-Packard Co.“

If you haven't read of the agreement before, you probably think hardware... right ?

But its not about HW, its only about IBM reselling („OEMing“) the Solaris Operating System for its x86 line of servers. It isa big deal, but not a HW collaboration. And it will put preasure on HP (at least I hope so).